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Celestica Announces Second Quarter 2025 Financial Results
(All amounts in U.S. dollars)TORONTO, July 28, 2025 (GLOBE NEWSWIRE) -- Celestica Inc.1 (TSX and NYSE: CLS), a leader in design, manufacturing, hardware platform and supply chain solutions for the world's most innovative companies, today announced financial results for the quarter ended June 30, 2025 (Q2 2025). Q2 2025 Highlights Revenue: $2.89 billion, increased 21% compared to $2.39 billion for second quarter of 2024 (Q2 2024). GAAP earnings from operations as a % of revenue: 9.4%, compared to 5.6% for Q2 2024. Adjusted operating margin (non-GAAP)*: 7.4%, compared to 6.3% for Q2 2024. GAAP earnings per share2 (EPS): $1.82, compared to $0.80 for Q2 2024. Adjusted EPS2 (non-GAAP)*: $1.39, compared to $0.90 for Q2 2024. Repurchased 0.6 million common shares for cancellation for $40.0 million in Q2 2025. 'We achieved very strong results in the second quarter, with revenue of $2.89 billion and non-GAAP adjusted EPS* of $1.39, representing growth of 21% and 54%, respectively, each exceeding the high end of our guidance ranges. This performance was bolstered by strong adjusted operating margin* of 7.4%, another new high for the company, demonstrating the strength of our execution,' stated Rob Mionis, President and CEO. 'With our strong first half results, and a strengthening demand outlook from our CCS customers, we are increasing our full-year 2025 outlook. We now expect revenue to reach $11.55 billion, an increase from the prior $10.85 billion, and anticipate non-GAAP adjusted EPS* of $5.50, up from our previous estimate of $5.00.' 1 Celestica has two operating and reportable segments: Advanced Technology Solutions (ATS) (comprised of our Aerospace and Defense (A&D), Industrial, HealthTech and Capital Equipment businesses), and Connectivity & Cloud Solutions (CCS) (consists of our Communications and Enterprise (servers and storage) end markets). Segment performance is evaluated based on segment revenue, segment income and segment margin (segment income as a percentage of segment revenue). See note 3 to our June 30, 2025 unaudited interim condensed consolidated financial statements (Q2 2025 Interim Financial Statements) for further detail.2 Per share information included in this press release is based on diluted shares outstanding unless otherwise noted.* See Use of Non-GAAP Measures and Schedule 1 for, among other items, non-GAAP financial measures (and ratios) included in this press release, their definitions, uses, and a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures. Non-GAAP measures in this press release are denoted with an asterisk (*). Third Quarter of 2025 (Q3 2025) Guidance Q3 2025 Guidance Revenue (in billions)(1) $2.875 to $3.125 Adjusted operating margin (non-GAAP)* 7.4% at the mid-point of ourrevenue and non-GAAP adjustedEPS guidance ranges Adjusted EPS (non-GAAP)*(1) (2) $1.37 to $1.53(1) Our guidance ranges for revenue and non-GAAP adjusted EPS have been expanded relative to prior quarters, in order to reflect the growth in our business. (2) Q3 2025 guidance excludes a negative $0.23 to $0.29 per share (pre-tax) aggregate impact on net earnings on a GAAP basis for employee stock-based compensation (SBC) expense, amortization of intangible assets (excluding computer software), and restructuring charges. Q3 2025 guidance assumes a non-GAAP adjusted effective tax rate* of approximately 19%. 2025 Annual Outlook Update Revenue of $11.55 billion (previous outlook $10.85 billion) Adjusted operating margin (non-GAAP)* of 7.4% (previous outlook 7.2%) Adjusted EPS (non-GAAP)* of $5.50 (previous outlook $5.00) Non-GAAP free cash flow* of $400 million (previous outlook $350 million) Our Q3 2025 Guidance and 2025 Annual Outlook Update assume no material changes to tariffs or trade restrictions compared to what are in effect as of July 28, 2025 and no material changes from current macroeconomic trends and uncertainties. Substantially all tariffs paid by Celestica are expected to be recovered from our customers, and are not expected to materially impact our non-GAAP adjusted EBIAT* or non-GAAP adjusted net earnings* dollars. * See Use of Non-GAAP Measures and Schedule 1. For our Q3 2025 Guidance and 2025 Annual Outlook Update, we present certain forward-looking non-GAAP metrics. A reconciliation of such forward-looking non-GAAP measures to the most directly comparable GAAP measures on a forward-looking basis has not been provided because the items that we exclude from GAAP to calculate the comparable non-GAAP measure are dependent on future events that are not able to be reliably predicted by management and are not part of our routine operating activities. We are unable to provide such a reconciliation without unreasonable effort due to the uncertainty and inherent difficulty in predicting the occurrence, the financial impact and the periods in which the adjustments may be recognized. The occurrence, timing and amount of any of the items excluded from GAAP to calculate non-GAAP could significantly impact our GAAP results. Summary of Selected Q2 2025 Results Q2 2025 Actual Q2 2025 Guidance(2) Revenue (in billions) $2.89 $2.575 to $2.725 GAAP earnings from operations as a % of revenue 9.4% N/A GAAP EPS(1) $1.82 N/A Adjusted operating margin (non-GAAP)* 7.4% 7.2% at the mid-point of ourrevenue and non-GAAP adjustedEPS guidance ranges Adjusted EPS (non-GAAP)* $1.39 $1.17 to $1.27 CCS segment revenue: $2.07 billion, increased 28% compared to Q2 2024; CCS segment margin: 8.3% compared to 7.0% for Q2 2024. Hardware Platform Solutions revenue of approximately $1.2 billion increased 82% compared to Q2 2024. ATS segment revenue: $0.82 billion, increased 7% compared to Q2 2024; ATS segment margin: 5.3% compared to 4.6% for Q2 2024. (1) GAAP EPS of $1.82 for Q2 2025 included an aggregate charge of $0.33 per share (pre-tax) for employee SBC expense, amortization of intangible assets (excluding computer software), and restructuring charges (Q2 2024 — $0.23 per share (pre-tax)). See the tables in Schedule 1 and note 11 to the Q2 2025 Interim Financial Statements for per-item charges. This aggregate charge was above our previously communicated Q2 2025 anticipated range of between $0.23 to $0.29 per share for these items, primarily due to higher than expected restructuring charges. GAAP EPS for Q2 2025 and the first half of 2025 (1H 2025) also included a $0.84 and $0.67, respectively, per share (pre-tax) positive impact attributable to a fair value gain on our total return swap agreement (TRS Gain) (Q2 2024 and the first half of 2024 — $0.13 and $0.40, respectively, per share (pre-tax) positive impact attributable to the TRS Gain). See note 9 to our Q2 2025 Interim Financial Statements. (2) For Q2 2025, our revenue exceeded the high end of our guidance range due to higher than anticipated customer demand, particularly in our Communications end market. Our non-GAAP adjusted operating margin for Q2 2025 exceeded the mid-point of our revenue and non-GAAP adjusted EPS guidance ranges and our Q2 2025 adjusted EPS exceeded the high end of our guidance range, primarily driven by stronger than anticipated operating leverage in both our segments. Our GAAP effective tax rate for Q2 2025 was 18%. As anticipated, our adjusted effective tax rate (non-GAAP) for Q2 2025 was 20%. Q2 2025 Financial Results Management will host its Q2 2025 results conference call on July 29, 2025 at 8:00 am. Eastern Daylight Time (EDT). The webcast can be accessed at Use of Non-GAAP Measures In addition to disclosing detailed operating results in accordance with GAAP, Celestica provides supplementary non-GAAP financial measures to consider in evaluating the company's operating performance. Management uses adjusted net earnings and other non-GAAP financial measures to assess operating performance, financial leverage and the effective use and allocation of resources; to provide more normalized period-to-period comparisons of operating results; to enhance investors' understanding of the core operating results of Celestica's business; and to set management incentive targets. We believe investors use both GAAP and non-GAAP financial measures to assess management's decisions associated with our priorities and capital allocation, as well as to analyze how our business operates in, or responds to, macroeconomic trends or other events that impact our core operations. See Schedule 1 below. About Celestica Celestica enables the world's best brands. Through our recognized customer-centric approach, we partner with leading companies in Aerospace and Defense, Communications, Enterprise, HealthTech, Industrial, and Capital Equipment to deliver solutions for their most complex challenges. As a leader in design, manufacturing, hardware platform and supply chain solutions, Celestica brings global expertise and insight at every stage of product development — from the drawing board to full-scale production and after-market services. With talented teams across North America, Europe and Asia, we imagine, develop and deliver a better future with our customers. For more information on Celestica, visit Our securities filings can be accessed at and The information contained on or accessible through is not incorporated by reference into, and does not form part of, this release. Cautionary Note Regarding Forward-looking Statements This press release contains forward-looking statements, including, without limitation, those related to: strengthening demand in our CCS segment, demand environment and customer forecasts, our anticipated financial and/or operational results, guidance and outlook, including statements under the headings "Q2 2025 Highlight", "Third Quarter of 2025 (Q3 2025) Guidance", and "2025 Annual Outlook Update", developments related to new customer wins, program inclusions, timing of production ramps, anticipated economic conditions, industry trends, underlying market growth rates, customer demand, prospects and opportunities, and strategic initiatives. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as 'believes,' 'expects,' 'anticipates,' 'estimates,' 'intends,' 'plans,' 'continues,' 'project,' "target," "outlook," "goal," "guidance", 'potential,' 'possible,' 'contemplate,' 'seek,' or similar expressions, or may employ such future or conditional verbs as 'may,' 'might,' 'will,' 'could,' 'should,' or 'would,' or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995, where applicable, and for forward-looking information under applicable Canadian securities laws. Forward-looking statements are provided to assist readers in understanding management's current expectations and plans relating to the future. Forward-looking statements reflect our current estimates, beliefs and assumptions, which are based on management's perception of historic trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances, including certain assumptions about anticipated CCS and ATS revenue growth; anticipated demand levels across our businesses; continuing operating leverage and improving mix; the impact of anticipated market conditions on our businesses; tax and interest rates; continued advancement and commercialization of artificial intelligence (AI) technologies and cloud computing; supporting sustained high levels of capital expenditure investments by leading hyperscaler, AI, and data center customers; the economy; our customers; our suppliers; no material changes to tariffs or trade restrictions compared to what are in effect as of July 28, 2025; that our customers will retain liability for and we will be able to recover substantially all costs from customers relating to product/component tariffs and countermeasures; no material changes in business activities resulting from current macroeconomic trends and uncertainties, including evolving global tariff and trade negotiations; our ability to achieve our strategic goals; the number of outstanding shares; as well as other market, financial and operational assumptions. Readers are cautioned that such information may not be appropriate for other purposes. Readers should not place undue reliance on such forward-looking information. Forward-looking statements are not guarantees of future performance and are subject to risks that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including, among others, risks related to: customer and segment concentration; reduction in customer revenue; erosion in customer market competitiveness; changing revenue mix and margins; uncertain market, industry, political and economic conditions; customer requests to transfer manufacturing of products from one facility to another; changes to policies or legislation; operational challenges such as inventory management and materials and supply chain constraints; and program ramps; the cyclical nature and/or volatility of certain of our businesses; talent management and inefficient employee utilization; risks related to the expansion or consolidation of our operations; cash flow, revenue, and operating results, and tax and interest variability; technology and IT disruption; increasing legal, tax and regulatory complexity and uncertainty (including in relation to our or our customers' businesses); integrating and achieving the anticipated benefits from acquisitions; and the potential adverse impacts of events outside of our control. For more exhaustive information on the foregoing and other material risks, uncertainties and assumptions readers should refer to our public filings at and including in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other documents filed with, or furnished to, the U.S. Securities and Exchange Commission, and the Canadian Securities Administrators, as applicable. Forward-looking statements speak only as of the date on which they are made, and we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. All forward-looking statements attributable to us are expressly qualified by these cautionary statements. Contacts: Celestica Global Communications Celestica Investor Relations (416) 448-2200 (416) 448-2211 media@ clsir@ Schedule 1 Supplementary Non-GAAP Financial Measures The non-GAAP financial measures included in this press release are: adjusted gross profit, adjusted selling, general and administrative expenses (SG&A), adjusted operating earnings (or adjusted EBIAT), adjusted net earnings and each of the foregoing measures as a percentage of revenue, adjusted EPS, adjusted ROIC, free cash flow, adjusted tax expense and adjusted effective tax rate. Adjusted EBIAT, adjusted net earnings, adjusted ROIC, free cash flow, adjusted tax expense and adjusted effective tax rate are further described in the tables below. As used herein, "Q1," "Q2," "Q3," and "Q4" followed by a year refers to the first quarter, second quarter, third quarter and fourth quarter of such year, respectively. We believe the non-GAAP financial measures herein enable investors to evaluate and compare our results from operations by excluding specific items that we do not consider to be reflective of our core operations, to evaluate cash resources that we generate from our business each period, to analyze operating results using the same measures our chief operating decision maker uses to measure performance, and to help compare our results with those of our competitors. In addition, management believes that the use of adjusted tax expense and adjusted effective tax rate provides additional transparency into the tax effects of our core operations, and are useful to management and investors for historical comparisons and forecasting. These non-GAAP financial measures reflect management's belief that the excluded items are not indicative of our core operations. Non-GAAP financial measures do not have any standardized meaning prescribed by GAAP and therefore may not be directly comparable to similar measures presented by other companies. Non-GAAP financial measures are not measures of performance under GAAP and should not be considered in isolation or as a substitute for any GAAP financial measure. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are below. We do not provide reconciliations for our forward-looking non-GAAP financial measures, as we are unable to reasonably estimate the items that we exclude from GAAP to calculate comparable non-GAAP measures without unreasonable effort. This is due to the inherent difficulty of forecasting the timing or amount of various events that have not yet occurred, are out of our control and/or cannot be reasonably predicted, and that would impact the most directly comparable forward-looking GAAP financial measure. For these same reasons, we are unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures may vary materially from the corresponding GAAP financial measures. Our non-GAAP financial measures are calculated by making the following adjustments (as applicable) to our GAAP financial measures: Employee SBC expense, which represents the estimated fair value of stock options, restricted share units and performance share units granted to employees, is excluded because grant activities vary significantly from quarter-to-quarter in both quantity and fair value. We believe excluding this expense allows us to compare core operating results with those of our competitors, who also generally exclude employee SBC expense in assessing operating performance, and may have different granting patterns, equity awards and valuation assumptions. Total return swap fair value adjustments (TRS FVAs) represent mark-to-market adjustments to our TRS Agreement, as the TRS Agreement is re-measured at fair value at each quarter end. We exclude the impact of these non-cash fair value adjustments (which reflect fluctuations in the market price of our common shares recorded in cost of sales or SG&A) from period to period as such fluctuations do not represent our ongoing operating performance. In addition, we believe that excluding these non-cash adjustments permits a helpful comparison of our core operating results to our competitors. Transitional hedge reclassifications and adjustments related to foreign currency forward exchange contracts (FCC Transitional ADJ) were specifically driven by our transition from IFRS to GAAP. For the purpose of determining our non-GAAP measures, FCC Transitional ADJ were made to cost of sales and SG&A. Our foreign currency forward exchange contracts that we entered prior to 2024 were accounted for as either cash flow hedges (qualified for hedge accounting) or economic hedges under IFRS. However, those contracts were not accounted for as such under GAAP until January 1, 2024, resulting in FCC Transitional ADJ. Had we been able to designate those foreign currency forward exchange contracts under GAAP from their inception, they would have qualified as cash flow or economic hedges under GAAP, and no FCC Transitional ADJ would have been required under GAAP. FCC Transitional ADJ do not reflect the on-going operational impacts of our hedging activities and are excluded in assessing operating performance. Amortization of intangible assets (excluding computer software) consist of non-cash charges for intangible assets that are impacted by the timing and magnitude of acquired businesses. Amortization of intangible assets varies among our competitors, and we believe that excluding these charges permits a helpful comparison of core operating results to our competitors who also generally exclude amortization charges in assessing operating performance. Restructuring and Other Charges (Recoveries) consist of, when applicable: Restructuring Charges (Recoveries) (defined below); Transition Costs (Recoveries) (defined below); consulting, transaction and integration costs related to potential and completed acquisitions; legal settlements (recoveries); and commencing in Q2 2023, related costs pertaining to our transition as a U.S. domestic filer. We exclude these charges and recoveries because we believe that they are not directly related to ongoing operating results and do not reflect our expected future operating expenses after completion of the relevant actions. Our competitors may record similar items at different times, and we believe these exclusions permit a helpful comparison of our core operating results with those of our competitors who also generally exclude these items in assessing operating performance. Restructuring Charges (Recoveries), consist of costs or recoveries relating to: employee severance, lease terminations, site closings and consolidations, accelerated depreciation of owned property and equipment which are no longer used and are available for sale, and reductions in infrastructure. Transition Costs (Recoveries) consist of costs and recoveries in connection with: (i) the transfer of manufacturing lines from closed sites to other sites within our global network; (ii) the sale of real properties unrelated to restructuring actions (Property Dispositions); and (iii) specified charges or recoveries related to the Purchaser Lease (defined below). Transition Costs consist of direct relocation and duplicate costs (such as rent expense, utility costs, depreciation charges, and personnel costs) incurred during the transition periods, as well as cease-use and other costs incurred in connection with idle or vacated portions of the relevant premises that we would not have incurred but for these relocations, transfers and dispositions. As part of our 2019 Toronto real property sale, we entered into a related 10-year lease for our then-anticipated headquarters (Purchaser Lease). In November 2022, we extended the lease (on a long-term basis) on our current corporate headquarters due to several Purchaser Lease commencement date delays. In Q3 2023 and Q2 2025, we executed sublease agreements for the leased space under the Purchaser Lease. We record charges related to the sublet of the Purchaser Lease (which commenced in June 2024) as Transition Costs. We believe that excluding Transition Costs and Recoveries permits a helpful comparison of our core operating results from period-to-period, as they do not reflect our ongoing operations once these specified events are complete. Miscellaneous Expense (Income) consists primarily of: (i) certain net periodic benefit costs (credits) related to our pension and post-employment benefit plans consisting of interest costs and expected returns on pension balances, and amortization of actuarial gains or losses; and (ii) gains or losses related to foreign currency forward exchange contracts and interest rate swaps that we entered into prior to 2024. Those derivative instruments were accounted for as either cash flow hedges (qualifying for hedge accounting) or economic hedges under IFRS. However, those contracts were not accounted for as such under GAAP until January 1, 2024. Certain gains and losses related to those contracts were recorded in Miscellaneous Expense (Income). See FCC Transitional ADJ above. We exclude such items because we believe they are not directly related to our ongoing operating results. Tax effects of the non-core items, which include our non-GAAP adjustments above, are excluded from GAAP tax expense to calculate adjusted tax expense (non-GAAP), as we do not believe these costs or recoveries reflect our core operating performance and vary significantly among our competitors who also generally exclude such items in assessing operating performance. Our non-GAAP financial measures include the following: Adjusted operating earnings (Adjusted EBIAT) is defined as GAAP earnings from operations excluding the impact of Employee SBC expense, TRS FVAs, FCC Transitional ADJ, Amortization of intangible assets (excluding computer software), and Restructuring and Other Charges (Recoveries). Adjusted operating margin is adjusted operating earnings as a percentage of GAAP revenue. Management uses adjusted operating earnings (adjusted EBIAT) as a measure to assess performance related to our core operations. Adjusted net earnings is defined as GAAP net earnings excluding the impact of Employee SBC expense, TRS FVAs, FCC Transitional ADJ, amortization of intangible assets (excluding computer software), Restructuring and Other Charges (Recoveries), Miscellaneous Expense (Income) and adjustment for taxes. Adjusted EPS is calculated by dividing adjusted net earnings by the number of diluted weighted average shares outstanding. Management uses adjusted net earnings as a measure to assess performance related to our core operations. Free cash flow is defined as cash provided by (used in) operations less the purchase of property, plant and equipment (net of proceeds from the sale of certain surplus equipment and property, when applicable). Free cash flow does not represent residual cash flow available to Celestica for discretionary expenditures. Management uses free cash flow as a measure, in addition to GAAP cash provided by (used in) operations, to assess our operational cash flow performance. We believe free cash flow provides another level of transparency to our ability to generate cash from normal business operations. Adjusted ROIC is calculated by dividing annualized adjusted EBIAT by average net invested capital for the period. Net invested capital (calculated in the tables below) is derived from GAAP financial measures, and is defined as total assets less: cash, right-of-use (ROU) assets (operating and finance leases), accounts payable, accrued and other current liabilities (excluding finance and operating lease liabilities), provisions, and income taxes payable. Management uses adjusted ROIC as a measure to assess the effectiveness of the invested capital we employ to build products or provide services to our customers, by quantifying how well we generate earnings relative to the capital we have invested in our business. The following table (which is unaudited) sets forth, for the periods indicated, the various non-GAAP financial measures discussed above, and a reconciliation of such non-GAAP financial measures to the most directly comparable financial measures determined under GAAP (in millions, except percentages and per share amounts): Three months ended June 30 Six months ended June 30 2025 2024 2025 2024 % of revenue % of revenue % of revenue % of revenue GAAP revenue $ 2,893.4 $ 2,391.9 $ 5,542.0 $ 4,600.8 GAAP gross profit $ 371.0 12.8 % $ 253.8 10.6 % $ 644.9 11.6 % $ 475.9 10.3 % Employee SBC expense 7.3 5.7 17.4 14.6 TRS FVAs: gains (40.6 ) (7.1 ) (33.1 ) (19.9 ) Adjusted gross profit (non-GAAP) $ 337.7 11.7 % $ 252.4 10.6 % $ 629.2 11.4 % $ 470.6 10.2 % GAAP SG&A $ 38.9 1.3 % $ 79.3 3.3 % $ 151.4 2.7 % $ 144.1 3.1 % Employee SBC expense (7.9 ) (6.2 ) (23.8 ) (20.0 ) TRS FVAs: gains 56.8 8.6 45.2 27.3 FCC Transitional ADJ — 0.7 — 1.2 Adjusted SG&A (non-GAAP) $ 87.8 3.0 % $ 82.4 3.4 % $ 172.8 3.1 % $ 152.6 3.3 % GAAP earnings from operations $ 272.5 9.4 % $ 132.9 5.6 % $ 401.3 7.2 % $ 258.7 5.6 % Employee SBC expense 15.2 11.9 41.2 34.6 TRS FVAs: gains (97.4 ) (15.7 ) (78.3 ) (47.2 ) FCC Transitional ADJ — (0.7 ) — (1.2 ) Amortization of intangible assets (excluding computer software) 9.9 9.7 19.9 19.0 Restructuring and other charges, net of recoveries 14.5 11.5 18.4 16.3 Adjusted operating earnings (adjusted EBIAT) (non-GAAP) $ 214.7 7.4 % $ 149.6 6.3 % $ 402.5 7.3 % $ 280.2 6.1 % GAAP net earnings $ 211.0 7.3 % $ 95.0 4.0 % $ 297.2 5.4 % $ 186.8 4.1 % Employee SBC expense 15.2 11.9 41.2 34.6 TRS FVAs: gains (97.4 ) (15.7 ) (78.3 ) (47.2 ) FCC Transitional ADJ — (0.7 ) — (1.2 ) Amortization of intangible assets (excluding computer software) 9.9 9.7 19.9 19.0 Restructuring and other charges, net of recoveries 14.5 11.5 18.4 16.3 Miscellaneous Expense 1.7 4.4 3.1 11.0 Adjustments for taxes(1) 6.3 (8.1 ) (0.2 ) (12.5 ) Adjusted net earnings (non-GAAP) $ 161.2 5.6 % $ 108.0 4.5 % $ 301.3 5.4 % $ 206.8 4.5 % Diluted EPS Weighted average # of shares (in millions) 115.9 119.4 116.4 119.3 GAAP EPS $ 1.82 $ 0.80 $ 2.55 $ 1.57 Adjusted EPS (non-GAAP) $ 1.39 $ 0.90 $ 2.59 $ 1.73 # of shares outstanding at period end (in millions) 115.0 118.6 115.0 118.6 GAAP cash provided by operations $ 152.4 $ 99.6 $ 282.7 $ 207.7 Purchase of property, plant and equipment, net of sales proceeds (32.5 ) (34.0 ) (69.2 ) (74.4 ) Free cash flow (non-GAAP) $ 119.9 $ 65.6 $ 213.5 $ 133.3 GAAP ROIC % 45.0 % 23.6 % 33.2 % 23.2 % Adjusted ROIC % (non-GAAP) 35.5 % 26.6 % 33.3 % 25.1 % (1) The adjustments for taxes represent the tax effects (reflecting applicable effective tax rates) of the non-core items, which include our non-GAAP adjustments above. Our GAAP effective tax rate is determined by dividing (i) GAAP tax expense by (ii) earnings from operations minus finance costs and Miscellaneous Expense (Income) recorded on our statement of operations; our adjusted effective tax rate (non-GAAP) is determined by dividing (i) adjusted tax expense (non-GAAP) by (ii) adjusted operating earnings (non-GAAP) minus finance costs. The following table sets forth, for the periods indicated, our calculation of GAAP effective tax rate and adjusted effective tax rate (non-GAAP): Three months ended June 30 Six months ended June 30 2025 2024 2025 2024 GAAP tax expense $ 46.3 $ 18.5 $ 73.8 $ 31.9 Earnings from operations $ 272.5 $ 132.9 $ 401.3 $ 258.7 Finance costs (13.5 ) (15.0 ) (27.2 ) (29.0 ) Miscellaneous Expense (1.7 ) (4.4 ) (3.1 ) (11.0 ) $ 257.3 $ 113.5 $ 371.0 $ 218.7 GAAP effective tax rate 18 % 16 % 20 % 15 % Adjusted tax expense (non-GAAP) $ 40.0 $ 26.6 $ 74.0 $ 44.4 Adjusted operating earnings (non-GAAP) $ 214.7 $ 149.6 $ 402.5 $ 280.2 Finance costs (13.5 ) (15.0 ) (27.2 ) (29.0 ) $ 201.2 $ 134.6 $ 375.3 $ 251.2 Adjusted effective tax rate (non-GAAP) 20 % 20 % 20 % 18 % The following table sets forth, for the periods indicated, our calculation of GAAP ROIC % and adjusted ROIC % (non-GAAP) (in millions, except GAAP ROIC % and adjusted ROIC %): Three months ended Six months ended June 30 June 30 2025 2024 2025 2024 GAAP earnings from operations $ 272.5 $ 132.9 $ 401.3 $ 258.7 Multiplier to annualize earnings 4 4 2 2 Annualized GAAP earnings from operations $ 1,090.0 $ 531.6 $ 802.6 $ 517.4 Average net invested capital for the period* $ 2,419.9 $ 2,253.6 $ 2,418.2 $ 2,229.6 GAAP ROIC % 45.0 % 23.6 % 33.2 % 23.2 % Three months ended Six months ended June 30 June 30 2025 2024 2025 2024 Adjusted operating earnings (adjusted EBIAT) (non-GAAP) $ 214.7 $ 149.6 $ 402.5 $ 280.2 Multiplier to annualize earnings 4 4 2 2 Annualized adjusted EBIAT (non-GAAP) $ 858.8 $ 598.4 $ 805.0 $ 560.4 Average net invested capital for the period* $ 2,419.9 $ 2,253.6 $ 2,418.2 $ 2,229.6 Adjusted ROIC % (non-GAAP) 35.5 % 26.6 % 33.3 % 25.1 % June 302025 March 312025 December 312024 Net invested capital consists of: Total assets $ 6,241.1 $ 5,834.9 $ 5,988.2 Less: cash 313.8 303.0 423.3 Less: ROU assets (operating and finance leases) 174.9 178.6 180.8 Less: accounts payable, accrued and other current liabilities and provisions (excluding finance and operating lease liabilities) and income taxes payable 3,265.7 3,000.3 2,969.2 Net invested capital at period end* $ 2,486.7 $ 2,353.0 $ 2,414.9 June 302024 March 312024 December 312023 Net invested capital consists of: Total assets $ 5,872.8 $ 5,711.5 $ 5,890.5 Less: cash 434.0 308.1 370.4 Less: ROU assets (operating and finance leases) 200.1 196.1 170.0 Less: accounts payable, accrued and other current liabilities and provisions (excluding finance and operating lease liabilities) and income taxes payable 2,946.2 2,992.6 3,168.4 Net invested capital at period end* $ 2,292.5 $ 2,214.7 $ 2,181.7 * We use a two-point average to calculate average net invested capital for the quarter and a three-point average to calculate average net invested capital for the six-month period. Average net invested capital for Q2 2025 is the average of net invested capital as at June 30, 2025 and March 31, 2025 and average net invested capital for 1H 2025 is the average of net invested capital as at June 30, 2025, March 31, 2025 and December 31, 2024. CELESTICA CONSOLIDATED BALANCE SHEETS(in millions of U.S. dollars)(unaudited) June 302025 December 312024 Assets Current assets: Cash and cash equivalents $ 313.8 $ 423.3 Accounts receivable, net 2,287.8 2,069.0 Inventories 1,918.1 1,760.6 Other current assets 251.3 259.3 Total current assets 4,771.0 4,512.2 Property, plant and equipment, net 549.4 537.2 Operating lease right-of-use assets 123.5 124.4 Goodwill 340.8 340.5 Intangible assets, net 286.8 308.0 Deferred income taxes 95.2 87.7 Other non-current assets 74.4 78.2 Total assets $ 6,241.1 $ 5,988.2 Liabilities and Equity Current liabilities: Current portion of borrowings under credit facility and finance lease obligations $ 26.6 $ 26.5 Accounts payable 1,595.2 1,294.8 Accrued and other current liabilities and provisions 1,575.7 1,606.6 Income taxes payable 123.3 93.5 Total current liabilities 3,320.8 3,021.4 Long-term portion of borrowings under credit facility and finance lease obligations 848.6 770.2 Pension and non-pension post-employment benefit obligations 90.8 83.8 Other non-current liabilities and provisions 180.1 167.4 Deferred income taxes 42.9 49.4 Total liabilities 4,483.2 4,092.2 Contingencies Equity: Total equity 1,757.9 1,896.0 Total liabilities and equity $ 6,241.1 $ 5,988.2 CELESTICA CONSOLIDATED STATEMENTS OF OPERATIONS(in millions of U.S. dollars, except per share amounts)(unaudited) Three months ended Six months ended June 30 June 30 2025 2024 2025 2024 Revenue $ 2,893.4 $ 2,391.9 $ 5,542.0 $ 4,600.8 Cost of sales 2,522.4 2,138.1 4,897.1 4,124.9 Gross profit 371.0 253.8 644.9 475.9 Selling, general and administrative expenses 38.9 79.3 151.4 144.1 Research and development 34.0 19.4 51.6 35.9 Amortization of intangible assets 11.1 10.7 22.2 20.9 Restructuring and other charges, net of recoveries 14.5 11.5 18.4 16.3 Earnings from operations 272.5 132.9 401.3 258.7 Finance costs 13.5 15.0 27.2 29.0 Miscellaneous expense 1.7 4.4 3.1 11.0 Earnings before income taxes 257.3 113.5 371.0 218.7 Income tax expense (recovery) Current 61.2 38.6 88.8 49.3 Deferred (14.9 ) (20.1 ) (15.0 ) (17.4 ) 46.3 18.5 73.8 31.9 Net earnings $ 211.0 $ 95.0 $ 297.2 $ 186.8 Earnings per share: Basic $ 1.83 $ 0.80 $ 2.57 $ 1.57 Diluted $ 1.82 $ 0.80 $ 2.55 $ 1.57 Weighted-average shares used in computing per share amounts (in millions): Basic 115.1 118.8 115.5 118.9 Diluted 115.9 119.4 116.4 119.3 CELESTICA CONSOLIDATED STATEMENTS OF CASH FLOWS(in millions of U.S. dollars)(unaudited) Three months ended Six months ended June 30 June 30 Cash provided by (used in): 2025 2024 2025 2024 Operating activities: Net earnings $ 211.0 $ 95.0 $ 297.2 $ 186.8 Adjustments to reconcile net earnings to net cash flows from operating activities: Depreciation and amortization 45.3 36.9 82.7 72.6 Stock-based compensation (SBC) 15.2 11.9 41.2 34.6 Total return swap (TRS) fair value adjustments (97.4 ) (15.7 ) (78.3 ) (47.2 ) Restructuring and other charges 0.4 4.8 0.4 5.5 Unrealized losses on hedge derivatives 1.3 3.3 2.6 9.1 Deferred income taxes (14.9 ) (20.1 ) (15.0 ) (17.4 ) Other 12.2 3.3 18.4 (3.0 ) Changes in non-cash working capital items: Accounts receivable (151.9 ) (80.9 ) (218.8 ) (97.7 ) Inventories (129.8 ) 107.7 (157.5 ) 260.4 Other current assets (9.4 ) 9.4 (6.4 ) (0.7 ) Accounts payable, accrued and other current liabilities, provisions and income taxes payable 270.4 (56.0 ) 316.2 (195.3 ) Net cash provided by operating activities 152.4 99.6 282.7 207.7 Investing activities: Cash paid for business acquisition, net of cash acquired — (36.1 ) — (36.1 ) Purchase of property, plant and equipment (32.5 ) (36.9 ) (69.2 ) (77.3 ) Proceeds from sale of assets — 2.9 — 2.9 Other (2.5 ) — (2.5 ) — Net cash used in investing activities (35.0 ) (70.1 ) (71.7 ) (110.5 ) Financing activities: Borrowings under revolving loans 190.0 180.0 500.0 465.0 Repayments under revolving loans (250.0 ) (208.0 ) (410.0 ) (465.0 ) Borrowings under term loans — 750.0 — 750.0 Repayments under term loans (4.3 ) (604.3 ) (8.7 ) (608.9 ) Principal payments of finance leases (2.6 ) (2.3 ) (5.2 ) (4.8 ) Proceeds from issuance of capital stock 0.3 — 0.3 3.9 Repurchase of capital stock for cancellation (40.0 ) (10.0 ) (117.7 ) (26.5 ) Purchase of treasury stock for SBC plans — — (221.6 ) (101.6 ) Proceeds from TRS settlement — — 98.6 32.3 SBC cash settlement — — (156.0 ) (69.0 ) Debt issuance costs paid — (9.0 ) (0.2 ) (9.0 ) Net cash provided by (used in) financing activities (106.6 ) 96.4 (320.5 ) (33.6 ) Net increase (decrease) in cash and cash equivalents 10.8 125.9 (109.5 ) 63.6 Cash and cash equivalents, beginning of period 303.0 308.1 423.3 370.4 Cash and cash equivalents, end of period $ 313.8 $ 434.0 $ 313.8 $ 434.0 Supplemental disclosure information: Interest paid $ 12.5 $ 13.8 $ 27.3 $ 28.5 Net income taxes paid $ 50.6 $ 19.8 $ 56.2 $ 38.7 Non-cash investing activity: Unpaid purchases of property, plant and equipment at end of period $ 31.4 $ 33.0 $ 31.4 $ 33.0
Scotsman
5 days ago
- Business
- Scotsman
Campaigners walk 185-miles across Scotland for land justice
The walk covers a varied range of landownership from community ownership to venture-capital owned places. Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Dozens of campaigners for land justice are set to walk across Scotland for their cause. The 185-mile trek will see participants march between the Isle of Skye and Glasgow in September in a mission called 'Just Walk.' Advertisement Hide Ad Advertisement Hide Ad Organisers behind the event, Grassroots to Global, a Scotland-based group campaigning for political change and community empowerment, said the walk will 'rekindle the spirit of those who resisted The Clearances, and who fought for Land Justice during the Crofters Wars.' David Lees or Grassroots Global which is behind the Just Walk event | David Lees The three-week-long excursion is also aimed at bringing conversations of land ownership in Scotland more to the fore. Advertisement Hide Ad Advertisement Hide Ad The campaign group points to the increasing number of private companies buying up large swathes of land in Scotland. David Lees, from Grassroots to Global, said: 'We see this very much in the footsteps of The Jarrow March in the '30s and the Marches for Jobs in the 1980s. Five views in one: Knoydart, Sleat, Eigg, Rum, South Uist | Andy Tibbetts 'Despite past campaigns, there are still huge land ownership issues and we now see venture capital companies buying up huge estates in Scotland. 'The march will allow us to highlight injustices, by drawing attention to a system where communities are often excluded from decision-making about the land they live on.' Advertisement Hide Ad Advertisement Hide Ad Covering almost 200 miles, the walkers are set to cross different types of land ownership, from community owned to venture-capital owned, Forestry Land Scotland property to private land. 'We will be holding up a magnifying glass to these different places as well as testing the right to roam,' Mr Lees said. He said while traversing Loch Lomond, the walkers hope to speak to nearby communities about the Flamingo-land controversy. Advertisement Hide Ad Advertisement Hide Ad Community Land Scotland (CLS), the main organisations behind community ownership in Scotland, supported the project. Dr Josh Doble, CLS's director of policy and advocacy, said: 'We welcome this walk as a great opportunity to raise awareness of the archaic and deeply unjust issues around land ownership in Scotland. 'It's a long walk, through an area where there is a wide variety of land ownership from corporate, to public, to various levels of private. 'There are also some community owned landholdings en route, which we hope will provide inspiration for what is possible in terms of local economic, social and environmental development if more communities take ownership of land. Advertisement Hide Ad Advertisement Hide Ad 'The over-concentration of land in so few private hands is highly unusual globally and Just Walk can help raise public awareness of the need for radical change.' The Land Reform (Scotland) Bill is currently being debated in the Scottish Parliament and is at stage two, where it has seen more than 500 amendments. It has faced major criticism from rural organisations, including estates membership organisation Scottish Land and Estates (SL&E) which claimed some measures, including the breaking up of estates, will result in lasting damage to Scotland's rural economy. Others have argued the paper does not go far enough in splitting large land holdings. Advertisement Hide Ad Advertisement Hide Ad According to a blog post written last year by land campaigner and former Scottish Greens MSP Andy Wightman, 433 landowners owned 50 per cent of the privately-owned rural land in 2024 compared to 440 in 2012. The 'Just Walk' walkers will leave from Broadford on Skye on September 17 across the hills out of Knoydart and on to Glenfinnan. After crossing the Corran Ferry, the marchers head for Ballachulish and Glen Coe, before following the West Highland Way to Carbeth and finishing at the Broomielaw in Glasgow on October 7.
Finextra
7 days ago
- Business
- Finextra
CLS unveils redesigned CLSClearedFX service; LCH first CCP to go live
CLS, a financial market infrastructure group delivering settlement, processing and data solutions, today announces a redesign of its CLSClearedFX service, with LCH ForexClear as the first central counterparty (CCP) to go live on the service. 0 CLSClearedFX is a payment-versus-payment settlement service that allows CCPs and their clearing members to effectively mitigate settlement risk when settling cleared FX and derivative trades. The redesigned service leverages the existing CLSSettlement platform, enabling CCPs to connect and submit bilateral settlement instructions on behalf of their clearing members, integrating their flows into the main CLSSettlement session. This integration offers CCPs and their clearing members enhanced risk mitigation, significantly improved operational efficiencies, and greater liquidity benefits through a consolidated settlement model. They also benefit from CLSSettlement's resilient settlement model with robust failure management processes. LCH ForexClear has successfully transitioned to the redesigned CLSClearedFX service, integrating settlements of cleared deliverable FX contracts into the main CLSSettlement session. By joining this enhanced service, LCH ForexClear and its clearing members can eliminate the need for separate workflows and bifurcated funding, thereby reducing the costs associated with settling cleared trades. Tharidu Gamwara - Managing Director, Business Manager - Global Currencies and Emerging Markets Trading, J.P. Morgan said: 'CLSSettlement and LCH ForexClear are industry leading post-trade FX solutions. The operational efficiencies derived from both services will be advantageous to our business, offering multiple benefits that come from cleared FX trades being integrated in the main CLSSettlement session through CLSClearedFX.' Matthew May - Global Head of Market Structure and Non-Financial Risk - FX, EM Rates and Commodities, HSBC said: 'Mitigating risk in the FX market is a major area of focus for our business. As the largest financial market in the world, robust risk mitigation and capital optimization in our FX procedures are vital. With LCH ForexClear joining CLSClearedFX, the benefits of the two services together will be bringing additional efficiency to us and the wider market.' Andrew Cooper, Chief Services Officer, CLS said: 'CLS has created a more efficient service that will benefit central counterparties such as LCH ForexClear and its clearing members. Our redesigned service offering reflects the broader trend of financial institutions focusing on best practice in mitigating FX settlement risk and increasing efficiencies associated with centrally cleared trades. The new service demonstrates benefits we can offer to the wider FX marketplace by leveraging our unique position as a financial market infrastructure and collaborating with established service providers that share the same client base.' Andrew Batchelor, Head of ForexClear, LCH commented: 'LCH ForexClear was developed in response to customer demand for solutions that mitigate counterparty credit risk and provide improved financial resource efficiencies. ForexClear and CLS operating under the new redesigned service, will be instrumental in continuing to provide more efficient risk management in the global FX market. The synergy and robust affinities from joining the main CLSSettlement session via CLSClearedFX will enable us to better serve our clients.'
Yahoo
21-07-2025
- Business
- Yahoo
Celestica (CLS) Earnings Expected to Grow: Should You Buy?
The market expects Celestica (CLS) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 28. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. Zacks Consensus Estimate This electronics manufacturing services company is expected to post quarterly earnings of $1.24 per share in its upcoming report, which represents a year-over-year change of +36.3%. Revenues are expected to be $2.65 billion, up 11% from the year-ago quarter. Estimate Revisions Trend The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Earnings Whisper Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). How Have the Numbers Shaped Up for Celestica? For Celestica, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.81%. On the other hand, the stock currently carries a Zacks Rank of #2. So, this combination indicates that Celestica will most likely beat the consensus EPS estimate. Does Earnings Surprise History Hold Any Clue? While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Celestica would post earnings of $1.11 per share when it actually produced earnings of $1.20, delivering a surprise of +8.11%. Over the last four quarters, the company has beaten consensus EPS estimates three times. Bottom Line An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Celestica appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. An Industry Player's Expected Results Among the stocks in the Zacks Electronics - Manufacturing Services industry, Celestica (CLS), is soon expected to post earnings of $1.24 per share for the quarter ended June 2025. This estimate indicates a year-over-year change of +36.3%. This quarter's revenue is expected to be $2.65 billion, up 11% from the year-ago quarter. The consensus EPS estimate for Celestica has remained unchanged over the last 30 days. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +0.81%. When combined with a Zacks Rank of #2 (Buy), this Earnings ESP indicates that Celestica will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Celestica, Inc. (CLS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-07-2025
- Business
- Yahoo
Celestica (CLS) Outperforms Broader Market: What You Need to Know
In the latest trading session, Celestica (CLS) closed at $162.41, marking a +1.44% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.54%. Elsewhere, the Dow saw an upswing of 0.52%, while the tech-heavy Nasdaq appreciated by 0.74%. Prior to today's trading, shares of the electronics manufacturing services company had gained 17.5% outpaced the Computer and Technology sector's gain of 5.77% and the S&P 500's gain of 4.2%. The upcoming earnings release of Celestica will be of great interest to investors. The company's earnings report is expected on July 28, 2025. The company is forecasted to report an EPS of $1.23, showcasing a 35.16% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.65 billion, up 10.95% from the year-ago period. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.05 per share and revenue of $10.91 billion. These totals would mark changes of +30.15% and +13.15%, respectively, from last year. Investors should also pay attention to any latest changes in analyst estimates for Celestica. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Celestica is holding a Zacks Rank of #3 (Hold) right now. Valuation is also important, so investors should note that Celestica has a Forward P/E ratio of 31.68 right now. Its industry sports an average Forward P/E of 21.55, so one might conclude that Celestica is trading at a premium comparatively. The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow CLS in the coming trading sessions, be sure to utilize Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Celestica, Inc. (CLS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
